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The S&P TSX Composite Index scaled to a new lifetime high of 19556.89 on Tuesday, May 18, trading in green for the fourth straight day.
The gain was primarily recorded on the back of the strength in healthcare, utilities, information technology and financial stocks. Other high weightage sectors like Energy, Base Metals and Industrials settled in red and offset some of the gains of the performing sectors.
On Tuesday, around 980 stocks settled in green, while 799 stocks had a negative closing and 277 stocks traded flat.
3-Month Price Chart (as on May 18, 2021). Source: EODHD/Others (Thomson Reuters)
Major Movers and Gainers
Active Volume
Manulife Financial Corporation, Enbridge Inc and Trevali Mining Corporation were among the most actively traded stocks on the TSX on Tuesday.
Wall Street
Traders lightened their holdings on Tuesday as they awaited the release of the minutes from the Federal Reserve's policy meeting on Wednesday, which may give further insight on officials' expectations for inflation and economic revival.
As a result, the Dow Jones Industrial Average plunged 267.13 points to 34,061, while the S&P 500 dropped 35.46 points to 4,128, and the Nasdaq Composite fell 75.41 points to 13,304.
Commodity News
Inflation jitters helped push gold prices to three-month highs, trading at US$ 1,870.50.
Meanwhile, a negative trend was seen in oil prices as Brent Oil slipped 1.08% to US$ 68.71/bbl, and WTI Crude Oil shed 1.18% to close lower at US$ 65.49/bbl.
Currency Update
The Canadian dollar ended on a positive note against the US dollar on Tuesday, while USD/CAD was marginally down by 0.02% to 1.2064.
The US Dollar Index weakened against the basket of major currencies and closed at 89.80, down 0.40%, on Tuesday.
Money Market:
The US 10-year bond yield also lost some grounds on Tuesday and closed at 1.640, down 0.72%.
The Canada 10-year bond yield corrected 0.95% and closed at 1.564 on May 18, 2021.
